Bulgaria to join euro area on 1 January 2026

8 July 2025

• Conversion complaint of lev fixed astatine 1.95583 = EUR 1
• Bulgaria joined the ERM II successful 2020
• Bulgarian banks supervised by ECB since 2020

Today the Council of the European Union formally approved the accession of Bulgaria to the euro country connected 1 January 2026 and determined a Bulgarian lev conversion complaint of 1.95583 per euro. This is the existent cardinal complaint of the lev successful the Exchange Rate Mechanism (ERM II), which the currency joined connected 10 July 2020. The European Central Bank (ECB) and Българска народна банка (Bulgarian National Bank) agreed to show developments successful the Bulgarian lev against the euro connected the overseas speech marketplace until 1 January 2026.

With the introduction into unit of the close practice model betwixt the ECB and Българска народна банка (Bulgarian National Bank), the ECB has been liable for straight supervising 4 important institutions and overseeing 13 little important institutions successful Bulgaria since 1 October 2020.

For media queries, delight interaction Benoit Deeg, tel.: +49 172 1683 704.

Notes

• The statement to show the lev is successful the discourse of ERM II. Participation successful ERM II and observance of the mean fluctuation margins for astatine slightest the past 2 years is 1 of the convergence criteria to beryllium fulfilled up of euro country accession.
• The conversion complaint of the lev is acceptable by mode of an amendment to Regulation (EC) No 2866/98, which volition go effectual connected 1 January 2026.

CONTACT

European Central Bank